Movers and SHAKERS
Aurania Resources (AUIAF)(ARU:CA)
Aurania Provides Update on Drilling Program; Closes Equity Financing
As of April 24, 2020, Noble Capital Markets research on Aurania Resources is published under ticker symbols (AUIAF and ARU:CA). The price target is in USD and based on ticker symbol AUIAF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. Aurania Resources Ltd. is a Canada-based junior mining exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper. Its flagship asset, The Lost Cities-Cutucu Project, is in southeastern Ecuador in the Province of Morona-Santiago. The company also has several minor projects in Switzerland.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Drilling program at Tsenken. Drilling commenced on the Tsenken N2 copper-silver target in September using a portable rig to test both porphyry copper targets as well as sedimentary-hosted copper-silver deposits. While results have not yet been received, three bore holes (1-3) were drilled and assays were sent to the laboratory. The rig was moved to test the Tsenken N3 target with three drill holes (4-6) planned. Hole 4 was completed and Hole 5 is in progress. The company intends to conduct an MMT survey shortly which will provide magnetic, resistivity and conductivity information and should take about 3-4 weeks to complete. Other targets at Tsenken include N1, N4, and B.
Iron-Oxide Copper-Gold system. While management initially contemplated Tsenken N2 as a porphyry target, drilling intersected a mineral alteration zone typical of an iron oxide copper-gold system (IOCG). Management would like to better define the large mineral zone so that they can identify the core of the system where copper and gold is likely to be concentrated ...
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.